US Solar Inverter Market Research by Key players, Type and Application, Future Growth to 2032

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The global market for solar inverters is anticipated to grow annually by 5.0% in 2022 and reach a valuation of roughly US$ 11 Bn. Sales of solar inverters are anticipated to grow at a 6% CAGR over the forecast period as more people use renewable energy sources in their homes and businesses.

Government Initiatives toward Sustainable and Green Technologies to Drive Solar Inverter Market

The global solar inverter market is expected to witness a healthy rate of growth, owing to the ever rising consumption of solar power worldwide, for both residential and commercial purposes. In addition, recent years have also witnessed technological innovations in the sphere. Growing investments in the renewable energy sector has proper up the solar energy market worldwide.

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For instance, investments in large-scale initiative is projected to witness a 222% rise in line with the Australian Federal Government’s large-scale renewable energy target (RET) of 33,000 gigawatt-hours by 2020. In 2017, India was ranked 2nd in the most attractive renewable energy markets globally. The country has set a target of 175 GW of renewable power by 2022.

Similarly, Dubai’s state utility, the Dubai Electricity and Water Authority (DEWA) has agreed to update a power purchase agreement

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